Thaindian News

Canberra, Mar.9 (ANI): A court judgement has revealed that Radhika Oswal, wife of Indian entrepreneur Pankaj Oswal owes the Australian tax department 140 million dollars and may have also received 80 million dollars in payments from her husband’s company Burrup Fertilizers.

Last year in December, ANZ bank had appointed receivers to Oswal’s Pilbara ammonia empire, after being fed up of the dispute between Oswal and his Norwegian partner Yara.

Radhika had applied to the Victorian supreme court last month, challenging ANZ’s seizure of their Pilbara ammonia empire on the allegations that the company’s funds were being misused and to prevent the receivers from accessing the email account she used on the company’s corporate mail server on the grounds it had nothing to do with the company’s business.

The court granted her injunction until Friday, when the matter will go back before the court for pre- trial directions, The Sydney Morning Herald reports.

In response to the judgment, the Burrup receivers argued that they need access to her emails to continue investigating alleged financial irregularities.

The judgment referred to investigations by the receivers ‘which show that the plaintiff (Radhika ) may have received payments directly or indirectly from Burrup exceeding 80 million dollars.

The most surprising revelation was that Radhika, who owns 35 per cent of the company, had a garnishee notice lodged against her Burrup stake last month over a tax debt of approximately 140 million dollars.

The Oswals had left Perth in December, soon after the receivers had been appointed to Burrup, and later declared they did not plan to return.

The Commonwealth Bank has confisticated their jet and their half-built $60 million home in Perth is up for sale. Their 65 per cent stake in Burrup will soon be up for sale to pay off ANZ’s debts. (ANI)